According to the study, the wage requirment hasn't hurt Santa Fe businesses at all. But it hasn't spurred the economy, either.

As the Santa Fe Living Wage Network's Carol Oppenheimer told the Albuquerque Journal , "This program was
never passed as an economic stimulus package. ... It was passed in the
context of a moral framework that said no one should have to work on
the lower wages."

Judging the moral impact on Santa Fe is a little tricky. But economically at least, the living wage hasn't hurt or helped.